MIRA INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
ZHANGJIAGANG POLY MACHINERY & ELECTRIC
MANUFACTURING CO., LTD. |
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Registered Office : |
Sanxing Town, Zhangjiagang City, Jiangsu
Province 215624 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
23.01.2003 |
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Com. Reg. No.: |
320582000055629 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
manufacturing and selling electrical
machinery, metal wire, and cable machinery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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China |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Zhangjiagang Poly Machinery & Electric
Manufacturing Co., LTD.
sanxing town,
zhangjiagang city, JIANGSU PROVINCE 215624 PR CHINA
TEL: 86 (0)
512-58535585/58536693
FAX: 86 (0)
512-58532865
EXECUTIVE SUMMARY
Date of Registration : january 23, 2003
REGISTRATION NO. : 320582000055629
LEGAL FORM : Limited liabilities company
REGISTERED CAPITAL :
cny 500,000
staff : 20
BUSINESS CATEGORY :
manufacturing
Revenue :
CNY 6,073,000 (AS OF DEC. 31, 2010)
EQUITIES :
CNY 848,000 (AS OF DEC. 31, 2010)
WEBSITE : www.zjgpoly.com
E-MAIL :
sale@zjgpoly.com
PAYMENT : AVERAGE
MARKET CONDITION : fair
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : fair
EXCHANGE RATE : CNY 6.37 = USD 1
Adopted abbreviations
(As Follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
OPERATIONAL TREND & GENERAL
REPUTATION
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
***Note: SC’s correct name should be the above
stated one, instead of the given name – Zhanguagang Plly Machinery And Electric
Manufacturing Co., Ltd.
SC was
established as a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 320582000055629 on January
23, 2003.
SC’s Organization Code Certificate
No.: 74624240-1
SC’s registered capital: cny 500,000
SC’s paid-in capital: cny 500,000
Registration Change Record:
|
Date |
Change
of Contents |
Before the change |
After the change |
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|
Legal Representative |
Yin Jianbing |
Gu Qingfeng |
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Shareholder (s) (% of
Shareholding) |
Gu Qingfeng 40% Yin Jianbing 60% |
Wo Junke 20% Gu Lijun 20% Gu Qingfeng 40% Hou Weifeng 20% |
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Shareholder (s) (% of
Shareholding) |
Wo Junke 20% Gu Lijun 20% Gu Qingfeng 40% Hou Weifeng 20% |
Gu Qingfeng 40% Li Chunyan 60% |
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-- |
Registration No. |
3205822105902 |
320582000055629 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Gu Qingfeng |
40 |
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Li Chunyan |
60 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative,
Chairman, and General Manager |
Gu
Qingfeng |
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Supervisor |
Li
Chunyan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART &
BACKGROUND
Name %
of Shareholding
Gu Qingfeng 40
Li Chunyan 60
MANAGEMENT
Gu
Qingfeng, Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 36
Ø
ID# 610103197503032013
Ø
Qualification:
University
Ø
Working
experience (s):
From 2005 to present, working in SC as legal representative,
chairman and general manager
Li
Chunyan, Supervisor
-------------------------------------------
Ø
Gender: F
Ø
Age: 37
Ø
ID# 320404197405120427
Ø
Qualification:
University
Sha Shufeng,
Salesman
------------------------------------------
Ø
Gender: F
Ø
Mobile: 86 13306243906
BUSINESS OPERATION
SC’s registered business scope includes manufacturing,
processing and selling electrical machinery, metal wire, cable machinery and
accessories.
SC is
mainly engaged in manufacturing and selling electrical machinery, metal wire, and cable
machinery.
Brand: POLY
SC’s
products mainly include:
Wire Drawing Machine
Wire Annealing Tin-coating Machine
Cladding Machine
SC sources its materials 100% from domestic
market, mainly Jiangsu. SC sells 65% of its products in domestic market, and
35% to overseas market, mainly Japan, India,
Vietnam, Iran, Egypt, etc.
The
buying terms of SC include T/T and Credit of 30-60 days. The payment terms of
SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 20 staff
at present.
SC rents an area
as its operating office & factory of approx. 1,000 sq. meters at the
heading address.
RELATED COMPANY
SC is
not known to have any subsidiary at present.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3 weighed
factors: Trade payment experience (through current enquiry with SC's
suppliers), our delinquent payment and our debt collection record concerning
SC.
Trade payment experience: SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent payment record: None in our
database.
Debt collection record: No overdue amount
owed by SC was placed to us for collection within the last 6 years.
BANKING
The bank information
of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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Long term investment |
0 |
0 |
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Total assets |
3,526 |
3,292 |
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------------- |
------------- |
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Long term liabilities |
0 |
0 |
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Total
liabilities |
2,790 |
2,444 |
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Equities |
736 |
848 |
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------------- |
------------- |
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Revenue |
4,180 |
6,073 |
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Profit before
tax |
126 |
141 |
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Less: profit tax |
26 |
28 |
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Profits |
100 |
113 |
Note: The detailed financials for Y2009 and Y2010 are not available in
SAIC.
Important Ratios
=============
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As
of Dec. 31, 2009 |
As
of Dec. 31, 2010 |
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*Liabilities
to assets |
0.79 |
0.74 |
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*Net profit
margin (%) |
2.39 |
1.86 |
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*Return on total
assets (%) |
2.84 |
3.43 |
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*
Revenue/Total assets |
1.19 |
1.84 |
FINANCIAL COMMENTS
PROFITABILITY:
FAIR
l
The revenue of SC appears
fair in its line.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both years.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an
average level, comparing with the size of its total assets.
LEVERAGE:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition
of the SC: Fairly stable.
CONCLUSIONS
SC is considered small-sized in its line with
fairly stable financial conditions. A credit line up to USD 8,000 would appear to be within SC’s
capacities.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.89 |
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UK Pound |
1 |
Rs.77.31 |
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Euro |
1 |
Rs.67.79 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.